Inductor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Air Core Inductor, Iron Core Inductor, Others), By End User Industry (Automation, Industrial, Telecommunication, Defense, Consumer Electronics, Others), By Application (Radio And High Frequency Applications, Power Supplies, DC-DC Convertors, Mobile Communication Systems, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061610069
- Pages : 145
The inductor market was valued at US$5.245 billion in 2020 and is projected to expand at a CAGR of 4.33% over the forecast period to reach US$7.056 billion by 2027.
An inductor, which is also called a coil, reactor, or choke, is a two-terminal electric component that stores energy in the magnetic field when electric current flows through it.
Growing demand for consumer electronics such as smartphones, tablets, laptops, set-top boxes, portable gaming consoles, and others is the major factor driving the demand for various inductors worldwide. The growth of the global inductor market is also being fueled by escalating demand for inductors from the telecommunication, industrial, automotive, and defense sectors. With the increasing disposable income, the expenditure on consumer electronics also increases, especially in developing countries like India, China, and Brazil, which boosts the demand for inductors. In fact, according to the World Bank, final consumption expenditure in China has increased from US$8 trillion in 2019 to US$8.13 trillion in 2020. However, fluctuating prices of raw materials are expected to restrain the growth of the market during the forecast period.
The growing use of inductors in the automotive industry
The growing adoption of inductors in automotive electronics parts is expected to be one of the prime drivers of the growth of the market. As of today, the market is transitioning from an age of people driving cars to an age of self-driven or autonomous driving capability, resulting in an increase in the number of electronic parts used in cars, which further increases the demand for the inductor. High-frequency power inductors for automotive applications are specifically designed for reliability to reduce failure risks. Increasing the production of automotive vehicles in various parts of the world is also expected to boost the demand for inductors in the coming years. For instance, according to the International Organization of Motor Vehicle Manufacturers, vehicle production in China has increased from 25,750,650 units in December 2019 to 26,082,220 units in December 2021.
The aerospace industry is growing at a substantial rate over the forecast period
In recent years, automation has come to take on a critical role in a number of industries. The aerospace industry is one such sector that is increasingly using automated devices to address a number of tasks such as aircraft maintenance procedures, conducting experiments in outer space, surveillance, intelligence gathering, and terrain mapping in defense. These technologically advanced devices use components like sensors, filters, motors, and transformers which rely highly on inductors. Increasing demand for the high-performance interface, increased security, and heavy processing requirements are boosting the automated products demands and with the emerging industrial internet of things (IIoT) in this sector; aerospace manufacturers are steadily upgrading their factories resulting in propelling the market growth opportunities for inductors and manufactures in the coming years.
The Asia Pacific is witnessing exponential growth during the forecast period
Geographically, Asia Pacific will witness substantial market growth opportunities owing to the booming automotive as well as consumer electronics industries in countries like China and India. This regional market growth is majorly supported by the presence of major market players who are investing heavily in expansion facilities. Simultaneously, the various government policies for investment in the development of consumer electronics and other industries will also have a significant impact on the semiconductor components market in this region, which will further boost the demand for inductors during the forecast period. For instance, the government of India recently reduced corporate tax rates, aiming to attract foreign investment and boost its manufacturing sector.
- In August 2022, TDK Corporation announced the new MLJ1608WG series of multilayer inductors which are targeted to use in automotive power over coax implementation. The company states that the mass production of these indicators began in August 2022.
- TDK Corporation launched inductors for small power systems in March 2021. The new inductor series which is developed for use in true wireless stereo (TWS) devices is called PLEA67. These new series inductors are intended for use in wireless earphones and other consumer electronics products.
COVID-19 Impact on Inductor Market
The pandemic had a significant impact on the global Inductor market due to supply chain disruption, price fluctuations, and reduction in production. Furthermore, the supply chain witnessed huge disruptions during this period owing to the temporary closure of factories, manufacturing units, etc. However, the sale and profits of consumer electronic companies witnessed positive growth owing to higher demand for smartphones, tablets, laptops, and many more. For instance, Samsung Electronics Co., Ltd recorded profits of US$22,370,853 thousand in 2020, up from US$18,415,633 thousand in 2019. Hence, the growth in the end-user sector impacted the growth of the global inductor market
Inductor Market Scope:
|Market Size Value in 2020||US$5.245 billion|
|Market Size Value in 2027||US$7.056 billion|
|Growth Rate||CAGR of 4.33% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, End User Industry, Application, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Vishay Intertechnology, KYOCERA AVX Components Corporation, Coilcraft, Inc., Delta Electronics, Inc., Taiyo Yuden Co., Ltd., Panasonic Corporation, TDK Corporation, Ice Components Inc., Pulse A Yageo Company, Murata Manufacturing Co., Ltd., Chilisin, TTI, Inc.|
|Customization Scope||Free report customization with purchase|
- By Type
- Air Core Inductor
- Ferrite Core Inductor
- By End User Industry
- Consumer Electronics
- By Application
- Radio and High Frequency Applications
- Power Supplies
- DC-DC Convertors
- Mobile Communication Systems
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Introduction
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Inductor Market Analysis, by Type
5.2. Air Core Inductor
5.3. Iron Core Inductor
6. Inductor Market Analysis, by End User Industry
6.6. Consumer Electronics
7. Inductor Market Analysis, by Application
7.2. Radio and High Frequency Applications
7.3. Power Supplies
7.4. DC-DC Convertors
7.5. Mobile Communication Systems
8. Inductor Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Vishay Intertechnology
10.2. KYOCERA AVX Components Corporation
10.3. Coilcraft, Inc.
10.4. Delta Electronics, Inc.
10.5. Taiyo Yuden Co., Ltd.
10.6. Panasonic Corporation
10.7. TDK Corporation
10.8. Ice Components Inc.
10.9. Pulse A Yageo Company
10.10. Murata Manufacturing Co., Ltd.
10.12. TTI, Inc.
KYOCERA AVX Components Corporation
Delta Electronics, Inc.
Taiyo Yuden Co., Ltd.
Ice Components Inc.
Pulse A Yageo Company
Murata Manufacturing Co., Ltd.
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